Russia is set to provide modern agricultural machinery to Pakistan to enhance crop yields and improve agricultural productivity.
This announcement was made by Russian Deputy Minister of Industry and Trade Aleksei Gruzdev during a meeting with Pakistan’s Minister for Industries, Production, and National Food Security, Rana Tanveer Hussain, in Islamabad.
The two officials emphasized the importance of achieving a balanced trade relationship between the two nations. Rana Tanveer highlighted the urgent need for advanced agricultural equipment to boost the country’s agricultural output, assuring that the Pakistani government will extend full support and facilities to Russian investors looking to operate in Pakistan.
In addition to the discussions on agricultural cooperation, Pakistan and Russia formalized their commitment to strengthen bilateral ties through the signing of a Memorandum of Understanding (MoU) aimed at enhancing economic and trade relations.
The signing ceremony took place in Islamabad and was attended by key figures including Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar and Russian Deputy Prime Minister Alexei Overchuk.
The MoU was signed between the Pakistan Mercantile Exchange (PMEX) and the Saint Petersburg International Mercantile Exchange (SPIMEX), with Farhan Tahir, Acting Managing Director of PMEX, representing Pakistan, and Igor Artemyev, President of SPIMEX, representing Russia.
Furthermore, Pakistan announced its accession to an MoU for the creation and development of an International Transport Corridor linking Belarus, Russia, Kazakhstan, Uzbekistan, Afghanistan, and Pakistan.
This initiative aims to enhance connectivity and trade across the region, paving the way for increased economic collaboration between the countries involved.
